Continued: Developers build industrial projects on spec again

“We monitored the market every year; now there’s just not a lot of large functional spaces in the market,” he said. “So when we see it makes sense to build, that’s what we do.” He said United Properties has talked to several potential tenants about the first spec building.

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Hurt during the Great Recession, developers are now planning and constructing spec buildings — those with no committed tenants. From left: Lonnie Provencher, Greg Miller and Eric Simmer of Interstate Partners recently broke ground on an industrial building at Meadow View Industrial Park in Eagan.